The Hawera Star. SATURDAY. MAY 17, 1930. SOUTH TARANAKI POWER BOARD.

Hawera Star, Volume L, 17 May 1930, Page 4

The Hawera Star.

SATURDAY. MAY 17, 1930. SOUTH TARANAKI POWER BOARD.

Delivered every evenine by 6 o’olook in Hawera, Manaia, Kaupokonui, Otakeho, Oeo, Pihama, Opunake, Normanby, Okaiawa Eltham, Ng-aere, Mangatoki, Kaponga, Awatuna, Te Kiri, Mahoe, Lowgarth, Manutahi, Kakaramea, Alton, Hurleyville Patea,’ Whenuakura, Waverley, Mokoia, Whakamara, Ohangai, Meremere, Fraser Road, and Ararala.

Although the South Taranaki Power Board’s balance sheet is awaiting Government audit, and is therefore not available for publication in detail, sufficient was disclosed in the chairman’s statement at the first annual meeting of the board last night to reassure the ratepayers who voted for the £187,500 loan -—and those who did not —that the board has entered upon a sound undertaking. It was shown that the net profit resulting from five and a-half month’s operations is £3522, from which £IOBS has been set aside as sinking fund for that period. The net revenue account discloses a final balance of £2590 and the trading account shows a net profit of £248. 'When it is remembered that this result has been achieved during a season of the year which is, at present, the board’s “leanest” period from a revenue standpoint, the prospects of the board making good appear

very bright. The period under review has been the summer season, "when the demand for lighting and heating, the board’s principal load, is at its lowest. Since the close of the financial year ending on March 31st, “daylight saving’’ has been withdrawn, days have grown shorter and the weather colder, with the result that consumption of current has increased. But the increased winter load is only one of the'avenues l for the production of increased sales and revenue which the board can anticipate. The contract for Hawera street I lighting has been signed, but the installation has still to be completed, while the reticulation of Waimate West, where 200 consumers are awaiting supply, has still to come into operation. Added to these definite factors in the increased sale of electricity during the board’s current year, is another big factor which is due to play its part in the very near future; that is the obtaining of bulk supply, which is promised to this district for not later than August, 1031. Immediately that supply becomes available the board will be in a position to offer power for milking machines throughout its reticulated area. Thus, in two years’ time, the summer season will no longer be regarded as. the board’s “lean season.’’ It can be easily perceived that when the board presents its balance-sheet for the year ending March 31st, 1932, there should be a balance very much greater than £2590, satisfactory as that figure is today. The report of last night’s meeting does not disclose the board’s decision regarding the disposal of that sum, but the information should be available not. later than the audited figures. As the chairman stated, the board could even now introduce reductions in its charges; that is for the board, of course, to decide, but, in our opinion, both the board and the public can very well afford to delay that happy moment until twelve months at least has passed over the head of the new administration, when it will be in a netter position to estimate its future revenue and expenditure. The board undoubtedly should be able to show an increasing profit each year for some years oh the present basis of charges, and, as its duty is to apply those profits (after providing for commitments and contingencies) to the reduction of charges, the ratepayers and the consumers generally should grow increasingly satisfied with the decision they made at the loan poll last year in the face of certain dire forebodings.